Avalanche Powers Ethena Pay's New Earn+ Yield Vault

avax announced on Oct. 28, 2026 that Avalanche is powering Earn+, a new feature inside ethenapay that gives eligible users access to higher target yields within the app for the first time.

Earn+ routes deposits into a vault managed by Upshift and Steakhouse, with the underlying strategy executing on aave v4 on Avalanche. The arrangement places the vault management and yield strategy functions with third-party operators while the capital stays within the Avalanche network.

Neither Avalanche nor Ethena disclosed target yield figures, deposit caps, or the full eligibility criteria in the announcement.

What Earn+ adds to Ethena Pay

Ethena Pay is a self-custodial mobile finance app from Ethena Labs that bundles USDe dollar savings, a spending card, and cross-border transfers. It launched in early access on iOS across more than 50 countries in September 2026, with Android and US/EU availability still pending. Balances in the app earn up to 6% APY in USDe, and card spend returns up to 5% cashback in AVAX.

Ethena CEO Guy Young previously described Ethena Pay as "almost invisible infrastructure" built exclusively on Avalanche, a positioning the network's official account amplified in late September.

What to watch

Earn+ is the first yield product layered into the Ethena Pay app beyond its base USDe savings rate, and it leans on Aave v4 on Avalanche, a deployment highlighted during Avalanche Summit Week in September. Yield terms, vault capacity, and the timeline for wider country support are the details still outstanding.